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Michael F. Easley
Governor
State of North Carolina
Office of the Governor
Governor's Press Office
State Capitol, Raleigh, NC 27603-8001
(919) 733-5612 - Toll Free 1-800-662-7005
FAX (919) 733-5166
For Release: EMBARGOED UNTIL 7PM Contact: Fred Hartman or Cari Hepp
Date: August 16, 2001 Phone: (919) 733-5612
EASLEY CALLS FOR END TO BUDGET STALEMATE; UNVEILS BIPARTISAN PLAN
Governor’s Revenue Package Protects Working Families, Education
RALEIGH – During a statewide address Thursday night, Gov. Mike Easley called for an end to the budget stalemate in the General Assembly and offered his own bipartisan solution that protects working families and continues progress in education.
Easley’s plan includes a tax relief package that would lower taxes for 40% of residents. Under Easley’s proposal, the state would bring in the revenue needed to balance the budget and replenish depleted reserves without cutting education or harming working families.
“I don’t believe in hiding from problems, but meeting the state’s challenges head on with honest solutions,” Easley said. “That is why tonight I am offering a specific plan to solve our budget crisis. It’s a balanced package of spending cuts and revenue increases.
“Too often, action in the legislature stalls over disputes between those who think we must have spending cuts and those who think we must have tax increases. But the truth is we need both to fix this problem. I am not willing to make deep cuts to our public schools and community colleges at a time when we need them the most. It is wrong for our state and it’s wrong for our children.”
Easley’s revenue proposal includes $750 million in government spending cuts, $150 million in loophole closings and a one-cent increase in the State sales tax not including food. In order to assure that working families do not bear an unfair share of the burden, Easley urged legislators to put in place three tax relief efforts:
• Implement an income tax credit for the lowest bracket of taxpaying families
• Eliminate the marriage penalty that unnecessarily hurts working families
• Increase the child income tax credit
“These targeted tax fairness measures, combined with the homestead exemption for seniors I recently signed into law, will protect family pocketbooks while putting the state’s financial house in order,” Easley said. “This is a balanced budget plan that will protect our schools and our working families. It asks for one penny in sales tax in exchange for triple-targeted tax relief.”
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Michael F. Easley
Governor
State of North Carolina
Office of the Governor
Governor's Press Office
State Capitol, Raleigh, NC 27603-8001
(919) 733-5612 - Toll Free 1-800-662-7005
FAX (919) 733-5166
For Release: EMBARGOED UNTIL 7PM Contact: Fred Hartman or Cari Hepp
Date: August 16, 2001 Phone: (919) 733-5612
EASLEY CALLS FOR END TO BUDGET STALEMATE; UNVEILS BIPARTISAN PLAN
Governor’s Revenue Package Protects Working Families, Education
RALEIGH – During a statewide address Thursday night, Gov. Mike Easley called for an end to the budget stalemate in the General Assembly and offered his own bipartisan solution that protects working families and continues progress in education.
Easley’s plan includes a tax relief package that would lower taxes for 40% of residents. Under Easley’s proposal, the state would bring in the revenue needed to balance the budget and replenish depleted reserves without cutting education or harming working families.
“I don’t believe in hiding from problems, but meeting the state’s challenges head on with honest solutions,” Easley said. “That is why tonight I am offering a specific plan to solve our budget crisis. It’s a balanced package of spending cuts and revenue increases.
“Too often, action in the legislature stalls over disputes between those who think we must have spending cuts and those who think we must have tax increases. But the truth is we need both to fix this problem. I am not willing to make deep cuts to our public schools and community colleges at a time when we need them the most. It is wrong for our state and it’s wrong for our children.”
Easley’s revenue proposal includes $750 million in government spending cuts, $150 million in loophole closings and a one-cent increase in the State sales tax not including food. In order to assure that working families do not bear an unfair share of the burden, Easley urged legislators to put in place three tax relief efforts:
• Implement an income tax credit for the lowest bracket of taxpaying families
• Eliminate the marriage penalty that unnecessarily hurts working families
• Increase the child income tax credit
“These targeted tax fairness measures, combined with the homestead exemption for seniors I recently signed into law, will protect family pocketbooks while putting the state’s financial house in order,” Easley said. “This is a balanced budget plan that will protect our schools and our working families. It asks for one penny in sales tax in exchange for triple-targeted tax relief.”
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